‘Make or break’ for Bitcoin, Binance under pressure, Strike attacks Coinbase:...
Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This Week Bitcoin mining difficulty just fell by a record 28% but will this help prices recover?Bitcoin has recorded its biggest mining difficulty drop of nearly 28%, but one model suggests prices will not bottom until October.The drop is in response to the ongoing miner migration out of China and the subsequent loss of....
Related News
Five Filecoin miners have gone on strike. Bitcoin miners are seeing depressed earnings. And Binance is closing its Jersey branch.
Coinbase Pro is a major bellwether for institutional demand. Now, data from CryptoQuant indicates that short-term selling pressure on Coinbase is mounting. Bitcoin’s (BTC) definitive breakout above $50,000 may have to wait longer to materialize as spot buying pressure on Coinbase Pro shows signs of weakening — at least, in the short term. The Coinbase Premium Index, which measures the gap between the BTC price on Coinbase Pro and Binance, has flipped negative, according to CryptoQuant. In other words, selling pressure on Coinbase appears to be strengthening compared with other exchanges....
Data shows the Bitcoin Coinbase premium gap has surged up to positive values, suggesting that buying from investors on the exchange could be behind the pump to $22k. Bitcoin Coinbase Premium Gap Observes Sharp Rise To Positive Values As pointed out by an analyst in a CryptoQuant post, after many months of negative values, the Coinbase premium gap is now above zero. The “Coinbase premium gap” is an indicator that measures the difference between the Bitcoin price on Coinbase Pro (USD pair) and the value on Binance (USDT pair). Since Coinbase is popularly used by US investors....
On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the selling pressure may be drying up. Bitcoin Coinbase Premium Gap Close To Zero, But Still Negative As pointed out by an analyst in a CryptoQuant post, the selling pressure from US investors seems to have reduced in recent days. The “Coinbase Premium Gap” is an indicator that measures the difference in the Bitcoin prices listed on crypto exchanges Coinbase (USD pair) and Binance (USDT pair). The quant notes that US investors are known to use the....
The Coinbase premium has returned, but why is the price of Bitcoin still struggling to stay above $32,000? The price of Bitcoin (BTC) recovered in the past two days after dropping to as low as $28,850. Following the swift rebound, however, BTC has been unable to break past heavy resistance at $33,000 on Jan. 23, pulling back below $32,000 at the time of writing.BTC/USD 1-hour price chart (Coinbase). Source: TradingView.comCoinbase premium returning is bullish, but what now?Earlier, when the price of Bitcoin started to drop below $32,000, BTC traded much lower on Coinbase than on....